Haas Automation, the parent company that Gene Haas operates to fund his eponymous Formula 1 enterprise, has expressed concern over the dramatic global tariffs implemented by U.S. President Donald Trump.
Haas is the only independently owned team remaining on the F1 grid, and Gene Haas has been the team’s chief ever since the American outfit entered the sport in 2016.
His approach to F1 ownership has been questioned over the years, with some arguing that selling the team would make way for expansion of the outfit, but Haas has been resolute in keeping his prized asset.
In recent years, this has paid dividends, with Haas enjoying an uptick in form under Team Principal Ayao Komatsu in 2024, finishing seventh in the standings and forming a new technical alliance with Toyota.
Haas funds his F1 team through Haas Automation, and the company has expressed concern at the tariffs imposed by President Trump on global imports, which has threatened to ignite a global trade war and made a significantly negative impact on the stock market.
Haas statement in response to Donald Trump tariffs
“Haas Automation is in the process of studying the full impact of tariffs on our operations,” a statement from the company read.
“In recent days, we’ve seen a dramatic decrease in demand for our machine tools from both domestic and foreign customers. Out of caution, we have reduced production and eliminated overtime at our sole manufacturing plant in Oxnard, California, where we employ 1700 workers and have been in operation since 1983. We have also halted hiring and put new employment requisitions on hold.”
Haas Automation hopes measures will be put in place by the U.S. Government to protect the country’s machining industry.
“While tariffs will have a significant impact on Haas Automation’s business, we’re optimistic that the Trump Administration will come up with solutions to provide relief for U.S. manufacturers—solutions that will allow us to continue manufacturing Haas CNC machines in the U.S., while employing thousands of workers at our factory in Oxnard, California, and indirectly at Haas Factory Outlets across America,” the statement continued.
“Haas is particularly concerned about the potential reduction of tariffs on machine tools from certain countries, such as Japan, Taiwan, and Korea, without a corresponding reduction in tariff rates for imported raw materials and components into the U.S. Such a scenario would be catastrophic to the $5 billion U.S. machine tool industry, which is a key component of U.S. national security.”
In a separate statement, Haas F1 team said that the comments of Haas Automation “does not have any impact regarding MoneyGram Haas F1 Team.
“It’s business as usual regarding the team and there is no change to our development plan, recruiting process and other projects.”
Haas currently resides sixth in the Constructors’ standings after three Grands Prix, having scored 15 points courtesy of drivers Oliver Bearman and Esteban Ocon.
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